Can-Fite BioPharma FY Net Loss Widens - Quick Facts

(RTTNews) - Can-Fite BioPharma Ltd. (CANF) reported that its net loss for the year ended December 31, 2020 widened to $14.44 million from last year's $12.62 million, due to a decrease in revenues in 2020 and an increase in research and development expenses which were partly offset by a decrease in finance expenses, net.

Revenues for the year were $0.76 million, a decrease of $1.27 million, or 63%, compared to $2.03 million for the year ended December 31, 2019. The decrease in revenues was mainly due to the recognition of a lower portion of advance payments received under distribution agreements from Gebro, Chong Kun Dung Pharmaceuticals, and Cipher Pharmaceuticals.